All Forum Posts by: Lawrence Sarpong

Hi Lonnie. I lived in Rogers for about 2 years while working for Sam's Club HQ. There's a lot of opportunity especially in and around downtown Rogers. If you come across any multi-families please hit me up. Best of luck!

@David P. Yes, totally. Options are better for the owner. I didn't think about it in that sense. Thanks!

David, 

If the house is in good shape and rent-able...why not lease option for 2-3 years, keep the difference between the mortgage, PITI and whatever your renting it out for? Just a thought.

Lawrence

Hi Zacharius,

My wife is from Capetown and after visiting her family there last year, I absolutley fell in love with Capetown! We have discussed the idea of purchasing rental property in some of the nicer area's in Capetown in the near future. Luckily for us however, being from Cape Town, she has family there to watch over the property once we purchased. So yes, definitely have thought about it and certainly planning on it in the future. Please let me know if you'd like to discuss further.

Cheers,

Lawrence

Thank you everyone! I appreciate the warm welcome!

Hi all! I am a new investor in Charlotte, NC and being new to investing and the area I'm seeking people to link up with for general conversation, partnerships, guidance, etc. If you are in the Charlotte/Mecklenburg county and interested in meeting up please feel free to reach out to me! Thanks!

Cheers,

Lawrence

Thank you to everyone. As a newbie, your opinions are truly valued. In your opinions, would it be a good idea to assume the mortgage on the home and then do a lease option for a $5k fee (pocketing the $1k remaining) which would then allow me to collect the positive monthly rent? The current mortgage payment including PITI is $1180 and the property is currently renting for $1450. Advice?

Hi all,

I have a motivated seller that is open to having me assume the mortgage on a 3bd/2bth home for the difference owed. The current mortgage is $168k and the amount owed is $164k, so basically I would assume the mortgage for $4k. The home is currently occupied, however the tenant will be leaving in March 2014. If I assumed the mortgage I have 2 questions.

1. Could I get a HELOC on the property which would allow me to invest in other properties?

2. If yes, how long would I have to wait prior to doing so?

My plan is to sell the property for $170k as soon as the market allows but until then, I would like hold onto the property and use it for the positive cash flow until it sells. Any advice would be awesome. Thank you.

Cheers.

I have a realtor pulling comp's now. I will reply back to the group shortly. Thank you in advance though everyone!

Hello all. I have a scenerio that I would like to run by the group for consideration. I've come across a forclosure on the Northside of Chicago that I think has some relatively good #'s but again I am leaning on the forum for thoughts. Here's the skinny:

Features:2bd/1bth condo

$97,900- what the bank is asking

$129,900 tax assessed value

$1,878 (2012 taxes-paid in full)

Now then...If you were going to make an offer on this property what would you offer the bank? I was thinking about offering 75% of the ask which would make the offer $73,425.

My end goal is to purchase the property via a private money lender and then flip it by placing it right back on the market for $105k which is still under the comp's in the market and then splitting the profit with the private money lender. I would love any thoughts on this. Does it work? Is there anything else that I should be looking for? Is this a good deal and would you structure it any different? Thanks in advance.